7 Aug 2013
GBP/JPY treading water above 150 awaiting BoE
FXstreet.com (Barcelona) - The GBP/JPY foreign exchange cross rate is last trading at fresh session lows 150.10, printed mostly on the back of Yen strength, ahead of later on BoE inflation report at 09:30 GMT.
GBP/JPY awaiting “forward guidance”
BoE governor Carney is expected to give a speech at the time the Inflation report is out, and according to the Wall Street Journal Carney will “set out how BoE will use 'forward guidance' on the future path of policy,” the paper said. The cross is down -0.72% for the week so far, but at exactly same quote it was 3 weeks ago.
GBP/JPY key technical levels
Immediate support to the downside for GBP/JPY lies at July 17/29 lows 149.95/91, followed by July 05 lows at 149.47, and June 26 lows at 149.22. To the upside, closest resistance shows at yesterday's/Friday's lows 150.23, followed by Monday's lows at 150.30, and July 26 lows at 150.70.
GBP/JPY awaiting “forward guidance”
BoE governor Carney is expected to give a speech at the time the Inflation report is out, and according to the Wall Street Journal Carney will “set out how BoE will use 'forward guidance' on the future path of policy,” the paper said. The cross is down -0.72% for the week so far, but at exactly same quote it was 3 weeks ago.
GBP/JPY key technical levels
Immediate support to the downside for GBP/JPY lies at July 17/29 lows 149.95/91, followed by July 05 lows at 149.47, and June 26 lows at 149.22. To the upside, closest resistance shows at yesterday's/Friday's lows 150.23, followed by Monday's lows at 150.30, and July 26 lows at 150.70.